How Technology Has Made Gambling a $73 Billion Industry How Technology Has Made Gambling a $73 Billion Industry

We are currently living in the halcyon days of online gambling with the market growing at such a rate that it’s expected to be worth a staggering $73.45 billion in 2024. The key driver in this growth has been the technical renaissance of online gambling which has opened the doors to a new breed of customers and a wider audience.

Experts are also predicting that more and more countries (and in the case of the US, more states) will legalize online gambling, providing another boost to the industry already growing alongside advances in digital technology. In this article we take an in-depth look at how the online gambling market is going to grow to unprecedented levels.

Mobile gaming on the rise

Oct 11, 2019 Actually, any kind of business is worth the effort invested in its organization. The only question here is how well you are going to care about it to receive the desired profit at the end. Online gambling is a highly lucrative industry on the market today. Market value of online gambling worldwide 2019-2023 Published by S. Lock, Sep 9, 2020 The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. Dollars in 2023. Nov 05, 2018 FELTON, California, November 5, 2018 /PRNewswire/ -. The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe.

If you’re over the legal age for gambling in your country then you are only seconds away from placing a bet at any given time. Mobile apps have come a long way in the last 10 years and almost every major bookmaker on the planet has a state-of-the-art mobile app that’s available on all devices.

Sports betting is by far the biggest market for mobile consumers, with the vast majority of adults in the UK having bet on sports at least once in their lives. The number of people using a mobile phone or tablet to bet increased to 51 percent in 2017, according to the Gambling Commission. And with mobile devices becoming as powerful as most PCs, surely this trend will continue. From big bets to small accumulators, mobile gaming makes betting easy and accessible.

All major sports events aired in the UK are awash with advertising for online betting. Whether that be on the shirts of the players, the advertising in stadiums or by way of interactive advertisements urging people to bet, you’ll see it at any sporting event.

In addition, technology has advanced to a stage where avid gamblers can participate in casino games streamed from real land-based casinos and interact with players from all over the world.

The introduction of 5G mobile networks is expected to make holographic phone/video calls a reality and it will not be long until this technology is incorporated into the world of online gambling, with virtual reality already being used by some providers. ‘Live Beyond Live’ virtual reality casinos are slowly becoming a staple on some sites allowing customers to gain the ultimate immersive experience without ever leaving the comfort of their own home.

Gambling regulations relaxing across the world

Europe is by far the most valuable region in the world for online gambling, with the continent representing $16.42 billion of the market in 2016. That is largely due to the widespread legality of the practice in Europe, specifically in the UK.

Although the British government regulates the industry in the country, the reach of online gambling is phenomenal in the UK. It’s impossible to go one day in the country without being exposed to some form of gambling advertising.

And the US looks set to follow its lead. Four American states have fully legalized online gambling, and more are expected to follow. Once Donald Trump is replaced as President and his government’s ties are cut with land-based casino tycoon Sheldon Adelson – who is militantly anti-online gambling – the industry is expected to thrive in the US.

Countries such as Japan are moving towards legalizing online casinos as well as a large number of African countries. The main draw for governments is its ability to generate further revenue to reinvest in public services such as schools, hospitals and transport.

At the forefront of technological innovation

Early online casinos and betting sites were incredibly primitive by today’s standards, but an industry with enormous resources has focused on ensuring their online sites utilize cutting edge technology.

Money deposits are instantaneous, and 24/7 customer support is already available to players. There have also been steps to make online gambling more interactive, with players allowed to chat with one another in play and also with the croupier.

For now, the pinnacle of online gambling is Live Casino, where players can link up with real-life dealers via video connection and bring the human casino experience to their living rooms. All the while, slots and RNG-powered games are becoming more engaging than ever, with hundreds being released weekly to tap into an increasingly broad range of niches. With all this available from the convenience of their own living room, few can argue with gamers preferring gambling at online gambling operators like this to the real thing.

These technological advances have already had an impact on land-based casinos, particularly those in Las Vegas that have reported losses in revenues and a drop in visitor numbers in recent years, attributing much of that to <href=”#22267622786a”>the rise in online gambling.

Increasing variety of gaming options

Regardless of how good a land-based casino is, the amount of games they can offer is based on the physical size of the establishment. Casinos such as The Bellagio boast about having over 2,300 video machines, but that’s a drop in the ocean compared to online providers.

Even modest online providers can now match that level of slot machine games available on their site, and the range of games is almost limitless online. If you want to play poker, baccarat, slot machines or bet on the latest soccer match you can do that all in the same place online.

No navigating busy casinos. No waiting for other gamers to finish. Simply playing what you want, where you want and how you want. Yet another reason that online gambling is flattening land-based betting and moving towards market domination.

Summary

In the UK, the Labour Party has vowed to crack down on the online gambling industry, but even if they get elected anytime soon – the juggernaut of online gambling will keep rumbling on. Its rate of growth in the UK alone is expected to continue in an upward trend as more players head online in droves and the world follows suit.

It’s entirely possible the online gambling industry will be worth $73.45 billion by 2024, but don’t be surprised if the reality actually exceeds that figure.

https://techspective.net/2018/11/29/how-technology-has-made-gambling-a-73-billion-industry/

We’ve come a long way since the days when everybody played Snake on their Nokia phone. It became hugely successful for the Finnish mobile maker, ending up on 350 million devices worldwide. Nowadays people download highly sophisticated games from the app stores, and although most are cheap to buy, often free, publishers make a considerable amount of revenue from in-app purchases. But just how big is the mobile gaming industry? We’ve collated a selection of recent mobile gaming statistics.

Mobile games still suffer some limitations compare to PC and console games. They tend to be smaller in scale and must work within the devices’ storage and memory limits. However, they are substantially more sophisticated than the games of the past, with better graphics and performance than many past consoles and even arcade machines.

Many developers have taken advantage of the fact that these games are mobile and used localization technology like GPS to make their games genuinely location-based. This means that games are possible on mobile games that would be impossible on a PC or a console tethered to a TV.

There was a slight check to the mobile gaming market late in 2018, mainly due to a slowdown in industry growth in China. This is due to a deliberate decision by the Chinese government to reduce the time Chinese youth spend playing games. Many of the mobile gaming industry statistics shown here, particularly the predictions, reflect this blip in the rise of mobile gaming.

20 Mobile Gaming Industry Statistics to Blow Your Mind:

1. Mobile Gaming Industry, Almost 50% of the Global Games Market

According to revised Newzoo research, the global games market was predicted to be worth $134.9 billion in 2018. The largest sector of this was mobile gaming which was estimated to be worth $63.2 billion, 47% of the global games market. This is a downwards revision of Newzoo’s original predictions, due to the regulatory changes in China combined with a current lack of new global blockbusters.

Source: https://newzoo.com/insights/articles/newzoo-cuts-global-games-forecast-for-2018-to-134-9-billion/

Smartphone games were expected to account for $50.0 billion of this, while tablet games, would account for the remainder $13.2 billion revenue.

While most gaming talk focuses on console games, which performed better than expected in 2018), they were still expected to only earn $38.3 billion, much less than that of mobile gaming.

2. Gaming Expected to be Worth More than $174 billion by 2021.

Newzoo continued their gaming revenue predictions through to 2021 (again revised in October 2018). By 2021 they expect total gaming to be worth $174.0 billion.

They expect mobile gaming to continue to grow, reaching $91.2 billion in 2021, with 43% of the market smartphone gaming and a further 9% tablet.

3. Asia-Pacific Makes up Almost Half of Global Games Market

Another Newzoo prediction revised in October 2018, is that 49% ($66.2 billion) of the 2018 global games spending would occur in the Asia-Pacific region, up 8.3% year on year. North America accounts for 25% of the market, $33.9 billion. Although this data doesn’t separate mobile games spending from other types of games, we know that mobile gaming is 47% of all gaming spending, so mobile spending must be approximately $31.1 billion in Asia-Pacific and $15.9 billion in North America.

4. 25% of Game Spending is in China

Newzoo predicts that total game spending in China in 2018 would be $34.4 billion, 25% of worldwide spending. In comparison, the US spent $31.5 billion.

5. 2.4 Billion People Globally Expected to Play Mobile Games in 2019

A recent report from Activision Blizzard Media and Newzoo, Betting on Billions: Unlocking the Power of Mobile Gamers, predicts that 2.4 billion people around the world will play a mobile game in 2019.

6. Gaming is the Third Most Popular App Category

The Betting on Billions report found that gaming was the third most popular app type, together with music. Half app users have opened a gaming app in the last week. The most popular kind of app, by far, is social media, followed by shopping apps. 50% of mobile app users play games (and the same percentage of music apps).

It is the second most popular type of app for 18-20-year-olds, with 2/3 having played a game in the last seven days.

7. Apps Account for 90% of the Time Spent on Smartphones

eMarketer’s Mobile Spent 2018 report found that apps account for over 90% of internet time on smartphones and 77% of internet time on tablets. But the time spent on the apps is unequal. Nearly half of app time occurs in an individual’s top app, and 90% in the top five. This would include games for many people. eMarketer’s report conflicts with the Betting on Billions report in that it says that digital audio is the top app genre, ahead of social networks. eMarketer still ranks gaming in its top five apps, however.

8. 73% of 2018 App Revenue Expected to Have Come from Gaming

According to Newzoo’s revised predictions, the $63.2 billion games app revenues in 2018 will have been 76% of all app revenues, leaving just $23.9 billion (27%) for non-gaming apps.

Although they expect the dollar values of mobile game apps to increase by 2021 (to $91.2 billion) these will only make up 71% of total app revenue, with non-gaming apps rising to 29%.

9. 50% of Mobile Gamers are Women

The Betting on Billions report shows that unlike console or PC gaming, there are little noticeable differences between the genders when it comes to the numbers participating in mobile gaming. 51% of all mobile gamers are women and 49% men.

10. Males and Females Play Different Types of Games

While the report found that as many females as males play mobile games, there are significant differences in the types of game they play. Young males prefer shooter games. Older females prefer puzzle games.

63% of those who play action/adventure games are men (and 52% are aged 21-35). This effect is even more pronounced with shooters – 74% men and 54% aged 21-25. With puzzle games, only 34% of the players are men, and 39% are aged 36-50 (with a further 21% aged 51-65).

11. 6-10pm is the Most Common Time to Play Apps

Betting on Billions found that more people played their games (and shopped) on mobile apps in the evening than at other times.

18-20-year-olds begin their daily game-playing earlier, with 30% opening gaming apps in the afternoon.

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12. Candy Crush is Still the Most Popular Game Overall

Candy Crush Saga may have been around for five years now, but Betting on Billions found that 35% of mobile gamers still play it, nearly double the second most popular game (Pokémon GO). Fortnite is currently in the third spot, proving that it is not just on consoles that Fortnite has mesmerized the younger generations.

Candy Crush is particularly popular in France, with 41% of mobile gamers still playing it daily.

13. Pokémon GO Top Grossing iPhone App

Source: https://www.statista.com/statistics/263988/top-grossing-mobile-ios-gaming-apps-ranked-by-daily-revenue/

Statista shows slightly different results when focusing on daily app revenue (and limited to the iPhone in the USA). They find the top grossing iPhone mobile gaming apps in the United States as of December 2018 to be Pokémon GO (earning $1,442,297 daily), followed by Fortnite ($1,399,028) and Candy Crush Saga ($1,106,098).

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14. The Average US Consumer Spent $77.60 on Mobile Games in 2016

According to Statista data, the average American spent $77.60 on mobile games in 2016, up from $70.44 in 2015 and $60.95 in 2014. Unfortunately, Statista doesn’t have any more recent data available, to show whether this upward trend has continued.

15. Mobile Phone Gamers in the USA is Increasing Steadily Each Year and Should Exceed 210 Million in 2020.

Statista has also released data on the number of mobile phone gamers in the United States from 2011 to 2020 (predictions from 2016 onwards). There were 80.7 million US mobile gamers in 2011, rising each year after that. It reached 164.9 million in 2015. Statista predicts that there will be 209.5 million US mobile gamers in 2019, increasing to 213 million in 2020.

16. 63% of (Adult) iOS Fortnite Players are Aged 18-24, and Nearly 2/3 are Male

According to Business of Apps, 63% of iOS Fortnite players are aged 18-24, with a further 23% aged 25-34. This does, however, ignore under 18s who play the game on their iOS mobile device.

Only 28% of iOS Fortnite gamers are female, with the majority (72%) being male.

17. Fortnite Estimated to Have Exceeded 100 Million Downloads on iOS in Just 138 Days

Apptopia estimates Fortnite surpassed the 100 million download mark after being on the iOS market for less than five months, just 138 days. However, the quickest game to reach 100 million iOS downloads was Super Mario Run which reached that milestone in a mere 68 days.

18. The Most Downloaded Mobile Gaming App of 2018 was Helix Jump

While Helix Jump may not have the recognizable name of Candy Crush Saga or Fortnite, according to Apptopia stats, it was the most downloaded game of 2018, with 334 million downloads. Subway Surfers came second, followed by PUBG Mobile, Fortnite, Rise Up and in sixth place, Candy Crush Saga.

19. 66% of Mobile Gamers Have Influence on Those Around Them

According to data collected for The Betting on Billions report, mobile gamers have more influence on the purchasing decisions of their friends, family, and colleagues than non-gamers. It found that 66% of gamers (vs. 53% of non-gamers) influenced the purchasing decisions of their family, 43% (gamers) vs. 35% (non-gamers) influenced their friends, and 37% gamers (vs. 29% non-gamers) influenced their colleagues.

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The top areas of influencing family purchasing decisions were groceries, dining out, and entertainment subscriptions.

20. 53% of Candy Crush Gamers are the Primary Decision Makers in their Home

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Perhaps unsurprisingly, considering the main demographics of Candy Crush players (predominantly female and older), across all household purchases, 53% of Candy Crush gamers are the primary decision-makers vs.45% for all gamers. They are particularly influential for decisions relating to purchases of groceries, clothing, homeware, and personal care.